Z-Tech (India) Ltd Q3 FY26 Earnings Analysis
Published 8 Jul 2026 | Market Cap: ₹752 Cr
Price
₹519
Market Cap
₹752 Cr
P/E Ratio
21.0
Z-Tech (India) Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹59 Cr, net profit ₹19 Cr.
Full financials →Earnings Summary
The company expects significant growth in its water segment revenues in the coming year, projecting at least 2-3 times increase, though it will remain a small part of the overall portfolio (Page 17). The company expects a significant jump in top-line and bottom-line growth, targeting over 50% year-on-year growth driven by expanding park operations and ticketing revenues.
📊 Revenue & Sales Performance
- →The company expects significant growth in its water segment revenues in the coming year, projecting at least 2-3 times increase, though it will remain a small part of the overall portfolio (Page 17).
- →For the parks business, revenue for FY27 is expected around INR 170-200 crores, with EPC revenues growing from around INR 75-80 crores in FY26 to over INR 125 crores in FY27 (Pages 9-11).
- →Number of operational parks is expected to increase from 4 currently to 15 by end of FY26, and around 30 by end of FY27, supporting recurring revenue growth (Pages 9-14).
- →Recurring revenue from parks expected to grow from less than 5% currently to around 25% with 15 operational parks next year (Page 14).
- →Geotech (Terra) business showing significant growth, quadrupling last year’s quarter revenue, with plans to expand into flood mitigation and ground improvement projects (Page 9).
- →Overall, the company targets top-line and bottom-line growth of more than 50% year-on-year driven by expansion in parks and service segments (Page 14).
📈 Profitability & Margins
- →The company expects a significant jump in top-line and bottom-line growth, targeting over 50% year-on-year growth driven by expanding park operations and ticketing revenues.
- →For FY '27, park business revenue is projected around INR 170-200 crores, with EPC revenue crossing INR 125 crores plus.
- →Recurring revenues from operational parks are expected to increase substantially, with a target of increasing from under 5% currently to around 25% as 15 parks become fully operational next year.
- →Margins in the water segment (wastewater and sewage recycling) are expected to improve as the segment grows from its current low base.
- →Geotechnical solutions margins remain steady around 15-20%.
- →EPS for the current fiscal is restated around 5.3 for the quarter and 11.6 for nine months, with no major dilution expected in the next 6-12 months.
- →The company is confident of strong Q4 growth with potential threefold increase from Q3 revenues based on seasonal demand.
🏗️ Capital Expenditure Plans
- →Z-Tech India is focusing on building and operationalizing at least 15 parks by the end of the current financial year, moving from 4 parks earlier in the year.
- →The company is investing capital to shift from purely EPC (Engineering, Procurement, and Construction) play to a consumer annuity model by operating these parks to generate recurring cash flows and profitability.
- →They funded and opened a park in Noida (Jungle Trail) through company funding, indicating direct capital deployment in park development.
- →No major acquisitions planned for the next six months; current focus is aligning the last acquisition related to water treatment technology.
- →Investments in technology acquisition for sewage treatment, recycling, and water body rejuvenation to complement park development and expand water treatment business.
- →Building technical strength in geotech for flood mitigation, mining stabilization, and soil erosion control, implying strategic investments in new areas of infrastructure solutions.
💰 Fundraising & Capital Structure
- →There is no explicit mention of any planned new fundraising through equity or debt in the near future.
- →On equity dilution, Sunil Ghorawat mentioned no specifics about further dilution but indicated past warrants subscription leading to some dilution expected by September.
- →Vikas Jain confirmed some marginal dilution happened and might continue within the current year but no major equity raise is planned.
- →Sunil Ghorawat stated there is nothing concrete on acquisitions or fundraising slated in the next six months.
- →The company appears focused on integrating its recent acquisition rather than raising new funds immediately.
- →Overall, no clear plans for raising fresh equity or debt are indicated for the upcoming 6 to 12 months.
📋 Order Book & Pipeline
- →Current total order book is expected to end close to INR 300 crores.
- →Creative parks pending order book is around INR 76 crores, with expected closure to INR 125-150 crores by year-end.
- →Recently received about INR 35 crores of new orders, including the largest-ever 35-acre Krishna-themed park in Mathura.
- →Total order book for wastewater management segment is around INR 15 crores (including roughly INR 1 crore O&M orders).
- →For FY '26, EPC revenue from parks expected around INR 75-80 crores, with ticketing/non-ticketing revenue projected at INR 8 crores.
- →FY '27 park EPC revenue expected to rise to INR 125+ crores, with 30 parks targeted operational by year-end.
- →No significant acquisition orders yet; focus remains on integrating last acquisition with no major acquisition planned for next six months.
Key Metrics
Frequently Asked Questions
What were Z-Tech (India) Ltd Q3 FY26 results?
The company expects significant growth in its water segment revenues in the coming year, projecting at least 2-3 times increase, though it will remain a small part of the overall portfolio (Page 17). The company expects a significant jump in top-line and bottom-line growth, targeting over 50% year-on-year growth driven by expanding park operations and ticketing revenues.
What is Z-Tech (India) Ltd share price analysis?
Z-Tech (India) Ltd currently shows a neutral. The stock trades at a P/E of 21.0 with a market cap of ₹752 Cr. Investors should review the full earnings analysis for detailed insights.
Is Z-Tech (India) Ltd planning capital expenditure?
Z-Tech India is focusing on building and operationalizing at least 15 parks by the end of the current financial year, moving from 4 parks earlier in the year.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.